“部分上市”行为会产生稀释上市公司每股收益等后果,应在规范的财务报告中反映出来。“部分上市”后续效应表现为上市公司的大量资金流向母公司,以弥补母公司为使其顺利上市,所做的牺牲,从而达成母子公司之间筹资利益分享和风险共同承担。 1.“部分上市”形成的上市公司,其每股收益有被母公司经济负担稀释的可能性。采用母公司部分优质资产局部改组上市的方法是我国公司股票上市普遍采用的做法。由于《证券法》对上市公司持续信息公开的要求和上市公司与其母公司之间千丝万缕的联系,在上市公司盈利性较强且决策权缺乏独立性的条 “Partial listing ” behavior will have diluted the earnings per share of listed companies and other consequences should be reflected in the standard financial reports. The follow-up effect is that a large amount of capital of the listed company flows to the parent company to make up for the sacrifices made by the parent company so that the parent company can successfully go public and achieve the sharing of fund-raising benefits and risk sharing between the parent company and the subsidiary company. 1. The listed company formed by “partial listing” has the possibility that its earnings per share may be diluted by the financial burden of the parent company. Part of the parent company to use high-quality assets reorganization of the listing method is the common practice of listed companies in China. Due to the requirements of the Securities Law on the continuous information disclosure of listed companies and the inextricable links between the listed company and its parent company and the lack of independence in the listed companies’ profitability and decision-making power